Europe’s Latest Leadership Crisis

Mar 30, 2012 2:24 pm ET

The first rule of the euro zone is: Don’t diss the higher-ups.

Jean-Claude Juncker, Luxembourg’s prime minister and long-time chairman of the euro group, comprised of finance ministers from countries which use the currency, likes to take charge of its big announcements. On Friday, he was due to unveil the group’s decision to enlarge their European Stability Mechanism – essentially a fund to bail out indebted countries – by 40% to EUR700 billion, at a press conference in Copenhagen.